Gen Y are shopaholics,Gen X eyes quality

The difference is in utility of the product in the buyers mind.

Generation Y are shopaholics and the rather older Generation X have a taste for quality goods,according to new research on Australian shoppers. The difference is in utility of the product in the buyers mind.

The analysis,conducted by research consultancy Directional Insights,split consumers into seven categories shopaholics,shopaphobes,shopping tolerators,quality seekers,price sensitive,traditionalists and online geeks,reported Australian commuter newspaper mX.

And it was found that nearly one third of shopaholics were Generation Y,those born between 1982 and 2000.

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They were classified as people who admitted being addicted to buying and often bought on impulse,reports News.com.au.

While Gen Yers like to shop often,they are also bargain hunters,with one in four classified as price sensitive.

A third of Generation X consumers – those born between 1961 and 1981 – valued quality over price,while 20 percent fell into the bargain-hunter category.

Generation X are traditional shoppers with 39 percent less likely to have credit and store cards and less likely to shop online.

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The report,based on interviews with more than 20,000 shoppers,found that women spent 66 minutes buying goods each visit,while men took 51 minutes.

Women made up 78 percent of shopaholics,while shopaphobes (61 percent) and tolerators were mostly men (65 percent).

DI managing director Helen Bakewell said Generation Y were the most passionate shoppers,but didn’t have the money to spend.

Younger shoppers were also attracted to big regional shopping centres,said Bakewell.